IASO Group?s financial results present a continuing growth during the 1st six months of 2007, confirming the management?s expectations.
At Group level, revenues reached the amount of euro 85.33 mil. Vs. euro 71.24 mil of the same period in 2006, showing an increase of 19.8%, while Earnings Before Interest Taxes, Depreciation and Amortization (EBITDA) reached the amount of euro 23.21 mil. Vs. euro 15.06 mil of the same period in 2006, showing an increase of 54.1% and having incorporated additional taxes and penalties that were imposed by the Tax Audit Authorities, on the parent company and its subsidiary IASO GENERAL S.A. for the fiscal years 2002,2003, 2004 and 2005.
The Group?s earnings before taxes amounted to euro 18.33 mil. Vs. euro 10.23 mil of the same period in 2006, representing an increase of 79.2%, while Earnings After Taxes amounted to euro 10.02 mil. Vs. euro 7.18 mil. of the same period in 2006, increasing by 39.6%.
Regarding the parent Company?s figures, Revenues amounted to euro 50.51 mil. Vs. euro 43.48 mil. of the same period in 2006, increasing by of 16.2 %, while Earnings Before Interest Taxes, Depreciation and Amortization (EBITDA) reached euro 18.84 mil. Vs. euro 14.53 mil of the same period in 2006, showing an increase of 29.7%.
Parent Company?s Earnings Before Taxes amounted to euro 17.34 mil. Vs. euro 12.92 mil. of the same period in 2006, increasing by 34.2%, while Earnings After Taxes amounted to euro 11.39 mil. Vs. euro 9.14 mil of the same period in 2006, increasing by 24.6%.
The achievement of the above results is mainly attributed to:
- The parent Company?s continuous revenue increase, as a result of the rise in the inpatients and outpatients inflow. It must be noted that this continuous growth of IASO S.A. is attributed to the expansion of the associated physicians base and indicates the trust and loyalty that associate physicians and patients show to IASO.
- The Profits before taxes of the subsidiary IASO General, as a result of the rise in the inpatients and outpatients inflow. The addition of new departments and services as well as the expansion of IASO General?s association with renowned and top scientific level physicians has added a new dynamic to the clinic. The supply of high level health services by IASO General has been well perceived and recognized by the market; as a result thereof the company is experiencing a significant growth in admissions and in occupancy rate.
- The remarkable results of the Group?s subsidiary MEDSTEM Services S.A., in the ground-breaking field of stem cells collection, processing and storage. The Company operates since the beginning of 2006, the highest scientifically and technologically equipped bank/unit of cord blood in Greece and the only private bank/unit that stores all the implants into its laboratories. It operates under the guidelines and control of one of the largest banks of America, Cryobanks International.
The release of the Interim Financial Statements of the 1st Six months of 2007, will take place on Tuesday August 28th, 2007.